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HomeMy WebLinkAboutItem 01 - Operating Budget ffE MEMO TO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL FROM: BRUNO RUMBELOW, CITY MANAGER MEETING DATE: SEPTEMBER 14, 2010 SUBJECT: FY 2011 OPERATING BUDGET ADOPTION RECOMMENDATION: Staff recommends Council consider an ordinance adopting the FY 2010-2011 City of Grapevine Annual Budget. The budget includes the programs discussed at the City Council workshops held on August 2, 2010 and August 16, 2010; the public hearing on September 7, 2010 and, contains fund expenditures in the following amounts: General Fund $49,308,083 Utility Enterprise Fund 20,187,441 Debt Service Fund 12,049,638 Convention & Visitors Bureau Fund 16,669,750 Lake Enterprise Fund 3,150,072 Streets & Drainage Capital Projects 2,310,598 Permanent Street Maintenance Fund 1 ,356,000 General Permanent Capital Maintenance Fund 987,160 Utility Permanent Capital Maintenance Fund 750,000 Stormwater Drainage Fund 2,067,869 Lake Parks Fund 1,515,363 Water and Wastewater System Capital Projects 3,762,844 413 Fund 7,761,301 Crime Control & Prevention District Fund 12,237,027 Buildings & Facilities Capital Projects 7,592,480 Traffic Improvements Capital Projects 1,397,820 Capital Equipment Acquisitions 2,117,457 BACKGROUND INFORMATION: The FY 2010-2011 budget, as proposed, is presented for your consideration. The budget presented requires a tax rate of$0.3500. The required public hearing to solicit input was held on September 7, 2010 as required by the City Charter. �A Uti�� ORDINANCE NO. �� ko AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF GRAPEVINE, TEXAS ADOPTING THE BUDGET FOR THE CITY OF G RAPE`,/INE, TEXAS FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 2010 AND ENDING SEPTEMBER 30, 2011; PROVIDING FOR INTRA- AND INTER- DEPARTMENTAL FUND TRANSFERS; PROVIDING FOR INVESTMENT OF CERTAIN FUNDS; DECLARING AN EMERGENCY; AND PROVIDING AN EFFECTIVE DATE WHEREAS, a notice of public hearing on the budget for the City of Grapevine, Texas for the Fiscal Year 2010-2011 (FY 2011) was heretofore published in accordance with law; and WHEREAS, a public hearing was duly held and all interested persons were given an opportunity to be heard for or against any item therein. NOW, THEREFORE, BE IT ORDAINED BYTHE CITY COUNCIL OF THE CITY OF GRAPEVINE, TEXAS; Section 1. That the appropriation amounts for the FY2010-2011 budget for the different funds of the City of Grapevine are hereby fixed as follows: General Fund $49,308,083 Utility Enterprise Fund 20,187,441 Debt Service Fund 12,049,638 Convention & Visitors Bureau Fund 16,669,750 Lake Enterprise Fund 3,150,072 Streets & Drainage Capital Projects 2,310,598 Permanent Street Maintenance Fund 1,356,000 General Permanent Capital Maintenance Fund 987,160 Utility Permanent Capital Maintenance Fund 750,000 Stormwater Drainage Fund 2,067,869 Lake Parks Fund 1,515,363 Water and Wastewater System Capital Projects 3,762,844 4B Fund 7,761,301 Crime Control & Prevention District Fund 12,237,027 Buildings & Facilities Capital Projects 7,592,480 Traffic Improvements Capital Projects 1,397,820 Capital Equipment Acquisitions 2,117,457 Section 2. That the City Council hereby adopts the revised budget for the fiscal year ending September 30, 2010 and the proposed Annual Operating Budget for the fiscal year ending September 30, 2011 and appropriates the funds contained therein. Section 3. That a copy of the official adopted FY2010-2011 budget document shall be kept on file in the office of the City Secretary and the Grapevine Public Library. Section 4. That the City Manager be and is hereby authorized to make intra and inter-departmental fund transfers during the fiscal year as becomes necessary in order to avoid over-expenditure of a particular object code. Section 5. That the City Manager is authorized to approve expenditures up to $15,000. Any expenditure over the$15,000 limit requires the approval of the City Council. Each expenditure authorized by the City Manager in Account 100-44701-120-1 in FY2010 and FY2011 is approved. Section 6. That the City Manager is authorized to reclassify personnel positions within city service as warranted. Section 7. That the City Manager, and/orAssistant City Manager and/or Director of Administrative Services and/or Managing Director of Financial Services are authorized to invest any funds not needed for current use, whether operating funds or bond funds in Official City Depositories, in any investment instrument authorized bythe City's Investment Policy and Investment Strategy and allowed by the Texas Public Funds Investment Act. Section 8. That the reserve requirement for the Lake Enterprise Fund is suspended for FY2010 and FY2011. Section 9. That the fact that the fiscal year begins on October 1, 2010 requires that this ordinance be effective upon its passage and adopted to preserve the public peace, property, health and safety and shall be in full force and effect from and after its passage and adoption, and an emergency is hereby declared. PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF GRAPEVINE, TEXAS on this the 14th day of September, 2010. APPROVED- ORD. NO. 2 ATTEST: APPROVED AS TO FORM: ORD. NO. 3